Networking in Stamford: Hundreds turn out for ACG event

Richard Lee

Updated 8:46 pm, Monday, December 9, 2013

Calgary has its annual Stampede for the cowboy set, and for the past decade Stamford has had what could be described as its yearly Multi-Million-Dollar Meet-Up for the region's investment community.

The Connecticut chapter of the Association for Corporate Growth on Friday morning hosted its 10th Annual Private Equity Exposition at the Stamford Marriott hotel, providing nearly 300 professionals in the private equity, banking and corporate markets the opportunity to network and perhaps initiate a deal that could result in the expansion of a company and its employment rolls.

Among the participants was Zubin Avari, general partner in Charter Oak Equity, a Westport private equity firm that has 10 small-to mid-size companies in its portfolio, including two in Connecticut -- ShelterLogic in Watertown and Brook & Whittle in North Branford.

"We're an investment banker that helps companies get investments," said Murphy, whose firm has a number of family-owned businesses as clients, most with revenue from $25 million to $250 million. "It's everything from scrap metal to women's fashions. This is a good one because there are so many advisors and investors in one room."

Solid companies that need more cash to grow and have dynamic potential are finding that they have a choice of investors, according to Neil Taylor, principal and chief financial officer of Bradford Equities, a private equity firm in White Plains, N.Y., which has seven companies in its portfolio.

"It's very competitive. A lot of times a private equity firm is bidding against another private equity firm. It's much more competitive than it was three or four years ago," he said, a sign that the outlook in the investment community is rebounding from the recession. "We're definitely seeing an improvement in valuation."

There were a number of deals done in 2012 as companies reacted to changes in the federal capital gains tax system that took affect in 2013, he said, adding that there was a hangover early this year.

"But in the last six months we've been as active as ever. People are seeing more evidence of steady earnings. They are saying `I've waited long enough, and I'll take advantage of the cash-rich private equity firms and corporate buyers,' " Greenberg said. "I think next year will be much better."

Mark Riser, principal in Morningside Private Investors in Ridgefield, agreed that opportunities for both investors and companies seeking a financial boost are improving.

"It's getting close to 2007 in terms of opportunities, but a lot of companies got burned" in the recession," he said. "Today, people are a lot more picky, as they should be."

Around the corner in the room, Christopher Cheang, vice president of Post Capital Partners in New York City, stood at his table, ready to introduce his firm and its "executive first" strategy to visitors.

ACG Chapter President Karin Kovacic, vice president of Alcentra, a middle market lending firm in New York City, was heartened by the turnout, saying that 25 private equity firms registered for the event, compared with 20 that have recently attended.